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    Finding profit maximising output and price

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    The demand function for a product sold by an oligopolist operating in the short run is given below:

    QD = 370 - P

    The firm's marginal cost function is given below:

    MC = 10 + 4Q

    Calculate the profit-maximizing price and quantity, if the firm operates in the short run.

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    https://brainmass.com/economics/output-and-costs/finding-profit-maximising-output-price-203221

    Solution Preview

    Let Q be profit maximizing quantity and P be the corresponding price

    Demand at this ...

    Solution Summary

    Solution explains the steps in finding profit maximising output and price for oligopolist in short run.

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